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CNN
Jan 12, 2013 10:00am PST
our elected officials don't put major blocks in your way. i'm ali velshi. debt ceilings, budgets and spending cuts are all you'll hear coming out of washington for the next few months. the partisan warfare in washington could put a dent in any recovery. the threat is real. the next battle will be another clash over raising the u.s. debt ceiling. the current ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get through about late february or early march. if congress doesn't act by then, the government risks not being able to pay some of its bills. republicans seem to think the debt ceiling is a useful tool to limit how much the government spends, but that is not what the debt ceiling law is supposed to do. it gives the u.s. treasury the flexibility to borrow money to pay the government's bills without going to congress to get approval every single time. it has nothing to do with spe spending or debt control. you might want it to be about spending control like i'd like to be in "people's" list of 50 most beautiful peopl
CNN
Jan 6, 2013 6:00am PST
the debt ceiling and raising objections over former republican senator chuck hagel. the president's expected choice for defense secretary. our conversation with senators dick durbin and lindsey graham. then, learning the ropes with two freshmen, democratic senator democrat heidi heitkamp and republican senator richard hudson and plus can either party compromise and keep hard core supporters on board, neera tannen, stephen moore of the "wall street journal" and jackie calmes of the "new york times" and our own dana bash. you knows what happens when sis fuss rolls that boulder to the top of the hill, it rolls back down, a piece of greek mythology that brings to us the reality of the u.s. congress. it got a deal that raises taxes on the upper brackets and prevents for now huge spending cuts. it's moved on to the issue of avoiding a u.s. default. >> the president needs to show up early this time. >> republicans say they are done raising taxes. they want the president to agree to spending cuts in exchange for raising the amount of money the u.s. treasury is allowed to borrow. the preside
MSNBC
Jan 7, 2013 10:00pm PST
debt ceiling is very scary, it will be about life after default. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> is the biggest national security threat facing the pentagon actually out of control spending? up next, why cutting the defense budget is job number one for the defense secretary, barney frank will be our next guest. >>> and later, the drama sounding the so-called trillion dollar coin. so, we all set? i've got two tickets to paradise! pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than eddie money running a travel agency. get happy. get geico. fifteen minutes could save y
MSNBC
Jan 5, 2013 9:00am PST
month, alex? >> okay, let's go from there to looking ahead to the debt ceiling debate, kristen. what is the his's strategy to get what it wants out of this deal without getting into another budget showdown? >> well, if you talk to white house officials they believe they have more leverage going into this battle in part because they got republicans to break on the issue of increasing taxes on wealthier americans, that's, of course, what president obama campaigned on and he got that as a part of the fiscal cliff deal. moving forward i think you can expect to see president obama hitting the road, taking his message on the road, traveling to different states and making the argument if the debt ceiling isn't increased, the economy will suffer. you hear him say he's not going to negotiate with republicans. what specifically does that mean, we'll have to wait and see because, of course, house speaker john boehner is also taking a very hard line. he has said that he's not going to negotiate with president obama in these one-on-one sessions that we've seen in the past budget battles and he be
MSNBC
Jan 7, 2013 7:00pm PST
threats to breach the debt ceiling is very scary, it will be about life after default. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. fourneau. >>> is the biggest national security threat facing the pentagon actually out of control spending? up next, why cutting the defense budget is job number one for the defense secretary, barney frank will be our next guest. >>> and later, the drama sounding the so-called trillion dollar coin. ♪ ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. >>> the controversy over chuck hagel has been all about high-level strategy. our relationship with israel, our negotiations with iran, whether we should have gone into iraq at all. and as defense secretary hagel will certainly have a ro
MSNBC
Jan 5, 2013 4:00am PST
soon. >> let's switch gears, felisha, you write about the upcoming debt ceiling battle. the president says no compromise, but reports say speaker boehner told fellow republicans, he plans to use the debt ceiling as leverage for subpoenaing cuts. who has the upper hand when it comes to raising the debt kre ceiling? >> most observers would say the leverage is on republicans' side here. what is interesting about this debt ceiling battle compared to the last one, have you high-ranking members taking positions pretty far away from the mainstream of what their party is saying. have you house minority leader come out at a news conference say the president should bypass congress entirely and invoke the 14th amendment to the constitution and raise the debt ceiling on his own and high-ranking republicans, john cornyn, also stated this week he thinks republicans should be prepared to push it to the point of a potential government shutdown in order to more spending cuts from the other side. one important thing to bear in mind, we have two months to get the deal done, the leeway is much
MSNBC
Jan 7, 2013 1:00am PST
sequester or the debt ceiling or the operation of government to try to engage the president to deal with this. but -- >> but you said that was a strategy, that's what you learned. i want to come back to the question. it's a hostage that's worth ransoming, the debt ceiling of the united states government. is that the strategy that you would ransom that here again to force the kind of spending cuts that you think are necessary? >> it's a shame that we have to use whatever leverage we have in congress to get the president to deal with the biggest problem confronting our future. and that's our excessive spending. >> but you're conceding that that may be the strategy this time? >> well, what the strategy ought to be is we ought to be doing something about the problem. >> well, i understand that. but there are additional problems as well that flow from that. as you know, after the debt ceiling was resolved in the summer of 2011, america's credit rating was downgraded. johningler was the republican governor of michigan and said the following. he said this is to bloomberg news. it's a terribly b
MSNBC
Jan 10, 2013 6:00am PST
. is jack lew ready for a full-blown fight over the debt ceiling in his first month on the job? pocket change. you heard about this idea. the trillion dollar coin to handle the debt ceiling. well, today we will tell you where it all started and whether or not it is really something president obama might use. they won't rule it out important some reason. and back to the future. the gun debate of 1994 had many lessons for the fight unfolding today. what can president obama learn from president clinton's success? good morning from washington. thursday, january 10, 2013. this is "the daily run-down." i'm chuck todd. let's get to my first read of the morning. this afternoon president obama will formally name his chief of staff, jack lew, to replace treasury secretary tim geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over the debt ceiling. lew is a walk among walks. described in one profile by the huffi
FOX News
Jan 6, 2013 7:00am PST
having me. >> raising the debt ceiling is non-negotiable. how is that going to go over with republicans? >> this is very much the first opening for ray on both sides. the president is non-negotiable, he wants to raise the debt ceiling. you have conservatives in congress saying we're not afraid to let the government shut down. they're starting on the opposite sides of the court and they'll move towards the center, if there's a deal. >> the president says he's willing to talk about more spending cuts as we discussed. not only the debt ceiling but also the sequestration, which is still on the table. that was pushed two months down the road and has to be dealt with but the president says he's not going to talk about that without discussions on more revenue, perhaps more tax hikes. is that on top of the ones with the fiscal cliff deal? >> when you borrow money and raise offsets. the president made it clear he wants that to come from revenue. the next thing they need to look at is spending cuts and congress is going to push for that. especially given the president got pretty close to what he
NBC
Jan 7, 2013 3:00am PST
fight over the debt ceiling? >> well, first, these last-minute deals are no way to run the government. i can tell you that. we know what the problem is. you're going to have al simpson and erskine bowles on. they have talked about this for a couple of years now. we have a spending problem. you know, we have a debt the size of our economy, which makes us look a lot like greece. this administration has driven spending as a percentage of our economy from 21% up to almost 25%. we've resolved the tax issue now. it's over. it's behind us. we were able to get permanent tax relief for 99% of american taxpayers. and for 500,000 small businesses. so that's behind us. what's left to be dealt with is the spending. and it's a shame that the president doesn't embrace the effort to reduce spending. none of us like using these situations like the sequester or the debt ceiling or the operation of government to try to engage the president to deal with this. but -- >> but you said that was a strategy, that's what you learned. i want to come back to the question. it's a hostage that's worth ransoming, th
MSNBC
Jan 6, 2013 9:00am PST
on spending cuts. the president said no compromise on the debt ceiling. where is this all headed? >> round two of this new year, basically the same fiscal kind of fight. the republicans, which some people say the republicans lost this first round by allowing the tax rates to go up for the first time in a couple of decades on the wealthier americans. they're saying, look, this is our chance to sort of gain back some of what we might have lost and really make an impact on the spending cuts. they're saying we want to hold the president to the lineup as we go towards this debt ceiling. if the president wants to raise the debt ceiling, we want an equal dollar per dollar spending cut if we want to raise the debt ceiling. within the two months, if you see a fight over the debt ceiling and sequester, these automated spending cuts, they're mandatory right now. republicans are really going to hold the line. now it's going to be a question of who is willing to blink first or who doesn't want to blink first. i think it's going to go down to the wire, just like this last one did. >> rachel, a
FOX News
Jan 6, 2013 11:00pm PST
past the debt ceiling deadline saying it wouldn't be such a bad thing. would you advocate that again this year? >> i advocated a solution and not a deal. it is no wonder the president doesn't want to debate this. if i had prosided over the four annual highest deficits in american history, $5 trillion increase in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cuts that were supposed to take place we just suspended them five days ago in the fiscal cliff deal. we have yet to cut one dime from the last debt ceiling agreement and now here it is time to do it again. we got to stop the madness. this is the 18-year-old kid on the credit card and they maxed out the credit card. instead of cutting it up and putting them on a budget barack obama says give us a new credit
FOX
Jan 6, 2013 10:00am PST
tough stay tuned for bruising round twompt from automatic spending cuts to raising the debt ceiling and paying for uncle sam to at a open, the battle battle lines are how will that fight play out. we'll ask two key congressman. van hollen and jim jordan. he's's new man in town with a message that champions opportunities. will the party establishment listen. we'll get a fresh perspective from senator ted cruz. from spending to immigration and gun control debate, will the new congress get past the toxic partis an shepto get things done for voters. we'll ask the sunday panel to read the political teleaves all right now on "fox news sunday". hello again from fox news in washington. after side stepping the fiscal cliff, the country faces a triple threat of greater scale . at stake government spending cuts and full faith and credit of the united states. with bruises fresh from the last dust up early jabs are already flying. joining is democratic chris van hollen and republican jim jordan. senate minority leader said the revenue piece is done. the president wants more tax he needs to limit ded
MSNBC
Jan 12, 2013 1:00pm PST
white house must first deal with the spending and the looming debt ceiling and if congress refuses to raise the debt ceiling coming up, the u.s. go in default. that could trigger a worse economy reaction than we feared in the fiscal cliff situation. we have the latest. if republicans refuse to raise the debt ceiling there's the possibility that the president can work around the congress, but it's likely. >> there are a couple of possibilities that are being floated around, thomas. one is that the white house could use the 14th amendment, that would allow the president to increase the debt ceiling without congress' approval, and it says validity of the public debt of the united states shall not be questioned. some democrats wrote a letter to the white house on friday saying it gives the president the authority to increase the debt ceiling unilaterally, and another option that is floated is to essentially mint a platinum coin worth a trillion dollars. this is a idea that dates back to a 1997 appropriations bill that deals with the issue. the white house saying they do not believe that t
MSNBC
Jan 5, 2013 2:00am PST
isn't going to have a debate with us over the debt ceiling. he also says he's not going to cut spending along with the debt limit hike. and then citing a poll conducted by republican david winston, boehner said, 72% of americans agree any increase in the nation's debt limit must be accompanied by spending cuts and reforms of a greater amount. the debate is already under way. number two, texas senator john cornyn took that fighting spirit even further threatening a partial government shutdown. he said in an op-ed, the coming deadlines will be the next flash points in our ongoing fight to bring fiscal sanity to washington. it may be necessary to partially shut down the government in order to secure the long-term fiscal well-being of our country rather than plod along the path of greece, italy, and spain. president obama needs to take note of this reality and put forward a plan to avoid it immediately. finally, pennsylvania republican senator pat toomey voiced the same sentiment earlier this week on "morning joe." >> our opportunity here is on the debt ceiling. the president has m
NBC
Jan 6, 2013 8:00am PST
whether congress will vote to raise the country's debt ceiling. shortly after lawmakers reached a down to the wire deal on taxes to pull the country back from the fiscal cliff earlier this week, the president tried to preempt the debt limit showdown by firing a warning shot at republicans. he reiterated that call yesterday. >> one thing i will not compromise over is whether congress should pay the tab for a bill already racked up. the congress refuses to give the united states the ability to pay its bills on time, the results for the global economy could be catastrophic. >> congress has vowed to use the upcoming votes to get more spending cuts to entitlement programs like medicare. some are threatening a government shutdown. in a moment, we'll talk to alan simpson and erskine bowles about where they see the fiscal cliff deal leaving the country. they say it falls short. but first, the man who brokered the deal with the white house on behalf of the republicans and no doubt will be a key figure in the battles ahead, the top republican in the senate, mitch mcconnell. he joins me now. leader
FOX News
Jan 12, 2013 3:00pm PST
separation of powers playing out over the debt ceiling. four leading democrats urging president obama to consider doing an end run around congress by raising the nation's borrowing limit without congressional approval. does the president have this authority? what could democrats think if the party dynamics were reversed? bringing in our political panel, mercedes, former spokesperson for president george w. bush, and richard goodstein, the democratic political consultant and former advisor to hillary clinton for president in 2008. good to see both of you. >> thank you. >> arthel: mercedes, you first. should president obama invoke the 14th amendment protection and bypass congress and do you think raising the debt ceiling is good or bad for the good of the country and tell me why? >> it would be unwise for president obama to basically bypass congress. as we know in the constitution, it clearly states that congress has the power of the purse. so it is their responsibility to deal with the debt ceiling. if we give the president this raw power grab, i think it would have a huge negative effect
MSNBC
Jan 4, 2013 5:00pm PST
wall street journal" thinks the debt ceiling threat is a bluff. they wrote today, "you can't take a hostage you aren't prepared to shoot." do you think republicans are willing to shoot the hostage in this negotiation? >> well, what i think is that the employers of many of our republican colleagues, wall street, and the big money interests know absolutely that if the united states for the first time in its history defaults, does not pay its debt, it could lead to an international financial crisis, which will be bad for wall street, which will be bad for big business. and i think they are telling the republicans not to go down that path. >> speaking of wall street, are you willing? i keep hearing that you're going to offer up a transaction tax that will generate several billion to shore up this social security fund. do you think you would get support on that? >> i think we get support from the american people. and i think more and more folks are looking at that as an option. it would do two things. it would bring in many hundreds of millions of dollars over a ten-year period. it would
RT
Jan 9, 2013 4:30pm EST
seeing as this is when congress must deal with the debt ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar coin ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff less and les miserables it is a hollywood blockbuster meant to show off a list actor singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today while jeffrey tucker argues the latter will hear why business week's cover feature is babies crying on capitol hill but what about a study that finds babies born during recessions are more likely to be delinquent teens no word on what happens if they get elected to office we'll have more in loose change plus we'll talk sped minutes an inflationary dragons' let's get to today's capital account. nouriel roubini has an op ed in the financial times today saying the deal reached in washington on new year's day kept the u.s. from falling off the you know what however given the dysfunction
PBS
Jan 9, 2013 6:30pm EST
fiscal cliff in the rear view mirror, raising the debt ceiling is washington's next big drama. we look at why its so important. >> susie: i'm susie gharib. that drama, could have a new cast member, we're learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g., the big bailed-out insurer, decides against suing uncle sam. >> susie: that and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those trick
CNBC
Jan 7, 2013 7:00pm EST
going to tell you why i think a debt ceiling and government shutdown, bad idea. i'm going to show you a better way. the "kudlow report" begins right now. . >>> first up, amid allegations of anti-semitism and antiisrael sentiments, president obama nonetheless nominated former republican senator chuck hagel for the position of secretary of defense. that today, also reportedly soft on iranian sanctions. so is there any truth to these charges? here to discuss eliot abrams, a senior fellow at the council on foreign relations. eliot, happy new year and as always, welcome back. are these charges -- is there merit to these charges? first of all, anti-semitism. >> look, i can't read his mind. i can only go by the public record. the public record suggests he's got a problem with jews, frankly. there's reports from the members of the tiny nebraska jewish community that they never had a politician in nebraska who was so indifferent, their word, indifferent to the community. who took no interest, who was completely nonresponsive to any requests they made. there's a beginning. then you have these quo
PBS
Jan 8, 2013 12:00am PST
a conversation about politics and economics and debt ceilings and fiscal cliffs and sequestration with david leonhardt of the "new york times" and austan goolsbee, former chairman of the president's council of economic advisors. >> there's much less of a sense in obama that he can get the grand bargain. although he's still trying. he and boehner both are. i think he's much more cynical about what republicans will agree to and i think he's come to think that many of them won't do anything with him. >> rose: national security, politics, and the economy when we continue. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. poop announced his picks for two of the most important national security positions earlier today. for secretary of defense he nominated former republican senator chuck hagel. he chose counterterrorism advisor john brennan to head the c.i.a.. >> chuck hagel is the leader that our troops deserve. he is an american patriot, he enlisted in the army and volunteered for vietnam. as the young private and then sergeant he ser
FOX News
Jan 6, 2013 11:00am PST
dehe bait into the debt ceiling limit and whether you go past it. here is what the president said about that on tuesday. let's list. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. far worse than the impact of a fiscal cliff. >> congressman jordan back in 2011 when we had the debate you advocated going past the debt ceiling deadline saying it wouldn't be such a bad thing. would you advocate that again this year? >> i advocated a solution and not a deal. it is no wonder the president doesn't want to debate this. if i had prosided over the four annual highest deficits in american history, $5 trillion increase in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and
CNBC
Jan 8, 2013 7:00pm EST
bcabinet. we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury secretary, which is managing the budget, you can't have a better guy than jack lu. you can talk a lot about it. >> that is where i disagree. this is not, hang on a second. i'm going to give jimmy a whack at this. this is not the director of the office of managing the budget. that is where i used to work. this is about financial matters. this is about guys who know what goes on at the world's financial capitol. this is about guys who used to look after the currency and about guys who are going to have to deal with republicans over the debt ceiling and according to every leader that i have talked to, he
CNN
Jan 12, 2013 6:30am PST
will come in that day. $52 billion in bills come due. if congress doesn't raise the debt ceiling, congress has to decide which of these bills to pay. interest on the debt we already owe, that's $30 billion. irs refunds, about $7 billion. federal salaries, difficult tut military paychecks, medicare, medicaid bills, defense vendors need to be paid. unemployment checks need to get cut. food stamp debit cards need to be refilled. deficit piles up into national debt. i'm joined by senior political columnist of the daily beast and mayaguinness. maya, should the debt ceiling be the place to argue about spending cuts? >> in the past, the debt controlling has been used responsibly, to help us push for making changes to the budget when we're on an unsustainable course. can you kind of think of it as a speed bump. we would hit the debt ceiling, be reminded we're borrowing too much. they would fight about raising it and then they would raise it. what happened last time, i think, was throwing cold water on to the system of how close we got to truly defaulting and the fact that that will lead to economi
CBS
Jan 9, 2013 7:00pm EST
fiscal cliff in the rear view mirror, raising the debt ceiling is washington's next big drama. we look at why its so important. >> susie: i'm susie gharib. that drama, could have a new cast member, we're learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g. the big bailed-out insurer decides against suing uncle sam. >> susie: that and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks
RT
Jan 4, 2013 5:30am EST
be faced with raising the debt ceiling and dealing with this the crest aeration spending cuts that the last congress put off in this new years deal what doesn't define space and time though are seemingly crazy ideas being discussed about padding the treasury's pockets with a trillion dollar platinum coin or two couple of fantastical with the reality of tax hikes that were passed so when a few nuggets from the fed minutes which are out today and we have liftoff now make no mistake the lawmakers on capitol hill may be the babies but we want to know if we're going to be the ones left crying ever harrison is here to tell us he's founder of credit write downs and i'm so happy on the show thanks for being here happy new year to you let's talk about what you do the fiscal cliff let which i like that's cute it's a miniature fiscal cliff you say it was an inverted there is a little bit of a mini crisis so what do you think is going to be impact of these tax hikes that were passed on the richest americans those making more than four hundred thousand dollars a year in income and also of cours
MSNBC
Jan 12, 2013 4:00am PST
it mission accomplished? a new way to avoid the debt ceiling. hear what senate democrats are telling the president to do today. >>> fighting the flu. the illness has now reached epidemic levels in the u.s. is it slowing down? >>> signature moment. how comics are taking on jacob lew's unique, to say the least, scrawl of his name. good morning, everyone. welcome to "weekends with alex witt." what's happening out there. after meeting with the president of afghanistan, president obama sharing new details this morning on how he plans to end the u.s. involvement there. >> this remains a very difficult mission, the work ahead will not be easy. our forces are still in harm's way. but make no mistake, our path is clear, and we are moving forward. because after a decade of war, the nation we need to rebuild is our own. >> kristen welker is at the white house. a very good start morning to you. let's talk about the details that the president revealed about the future role of the u.s. in afghanistan. >> good morning to you, alex. the big headline that came out of the joint news conference
CNN
Jan 6, 2013 12:00pm PST
" starts right now. >>> good-bye fiscal cliff, hello, debt ceiling cliff. your elected officials ready to push america over the edge of the cliff. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> well, yes, you will, mr. president, and very soon. democrats and republicans are set to clash again over raising the u.s. debt ceiling. back in the old days, the u.s. had a snl where every time a bill involving money was passed, the treasury had to raise money for by issuing bonds. the debt ceiling law was given the u.s. treasury the flexibility to borrow money. it had nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money. it has to pay the bills. republicans seem to think that the debt sealing is a good tool to limit how much the government spends, the current debt ceiling was hit on december 31st, but like last time, the u.s. treasury is usi
Comedy Central
Jan 8, 2013 10:30am PST
hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in
MSNBC
Jan 6, 2013 4:00am PST
. the president says he isn't going to have a debate with us over the debt ceiling. he also says he's not going to cut spending with along with the debt limit hike. citing a poll by david winston says that any increase in the nation's debt limit must be accompanied by spending cuts. texas senator john correspond anyo cornyn threatened a partial government shutdown. the coming deadlines will be the next flash points in our ongoing fight to bring fiscal sanity to washington. it may be necessary to shut down the government in order to secure the long-term fiscal well-being of our country, rather than plod along the path of greece, italy and spain. president obama needs to take note and put forth a plan immediately. and pat tume voiced the same sentiment in week earlier on "morning joe." >> our opportunity is on the debt ceiling. the president made it very clear. he doesn't want to have a discussion about it, because he knows this is where we have lev range. we republicans need to tolerate a temporary partial government shutdown which is what it could mean and insist we will get off the r
MSNBC
Jan 5, 2013 11:00am PST
, delivered the weekly address in which he talks about the upcoming fiscal fight over the debt ceiling and drawing a hard line with congress saying he's not going to negotiate with them and house speaker john boehner drawing a hard line as well saying he'll use the debt ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and washington post ed o'keefe, good afternoon to you, gentlemen. >> gentlemen. >> ed, the end of 2012, all about the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending
PBS
Jan 5, 2013 6:00pm EST
it is completely unprecedented. there's no change in sight. this is the debt ceiling debate of july and august 2011 which was supposed to come to grips with spending and our debt. it was punted off until this january. what came out was another probably as a result of the next one. we will come out with everything deferred. we are not facing the problem. ultimately, it will destroy our economy. >> i disagree with both nina and charles. it was postponed. it was avoided. that's a good thing. yes, the candid get kicked down the road. they had to because of the sequestration that will be taking place. what was achieved is that the president the achieved his goal of increasing the tax rate on the wealthy. that was important. the loser clearly being speaker boehner. yet a bad beginning of the year. >> the voters send them across the washingtons and make sure that they get every benefit that the government has available to them. they some republicans to washington to make sure that they will not have to pay. both parties keeping promises. they will much such a single gray hair on that beaut
MSNBC
Jan 8, 2013 10:00pm PST
. >> not just the debt ceiling, have leverage. >> we have to use whatever leverage we have. >> what happens to the leverage? >> actually, misunderstanding the situation. >> a different set of nuts. >> i'll go back to my original question. >> i know what your question is. >> how far are you willing to take this strategy. >> would you rule out a government shutdown? >> i helped close the government twice. i think that is a dead loser. >> hopefully we don't get to that point. >> a place for politics. >> well, i got 98% of what i wanted. i'm pretty happy. >> the republican party losing streak continued today as a new poll shows that republicans also lost in the public perception of the fiscal cliff negotiations. "the was post" shows that 30% approve the way house speaker john boehner handled fiscal cliff negotiations, 56% don't approve, 53% approve the way president obama handled negotiations. 40% disapprove. today, chris christie continued his campaign against house republicans. >> we look forward to what we hope will be quick congressional action on a full, clean, sandy-aid bill now.
NBC
Jan 6, 2013 8:00am PST
quote a preview of coming attractions and the fights ahead, including the debt ceiling that was so bitterly contested back in the summer of 2011. here is something you said in august of 2011 that i wanted to show our viewers and have you respond to. you said then, i think some of our members may have thought the default on paying america's bills issue was a hostage you might take a chance at shooting. most of us don't think that. what we did learn is this. it's a hostage that's worth ransoming. is that the strategy for the coming fight over the debt ceiling? >> well, first, these last-minute deals are no way to run the government. i can tell you that. we know what the problem is. you're going to have al simpson and erskine bowles on. they have talked about this for a couple of years now. we have a spending problem. you know, we have a debt the size of our economy, which makes us look a lot like greece. this administration has driven spending as a percentage of our economy from 21% up to almost 25%. we've resolved the tax issue now. it's over. it's behind us. we were able to get per
RT
Jan 4, 2013 1:30am EST
now we're going to see how congress deals with the debt ceiling and the second what's called the sequester quest for a second. i got it wrong million times i'm sure now then my next question then is since the bush tax cuts are now permanent for most people is that a good thing because it's always better for that money to be in the hands of the private sector than going to government coffers or is it bad because the c.b.s. says that hey we're looking at four trillion dollars added to the budget deficit as a result what are located sort of from the specter of that is that right now what the economy needs is you know more hands in people's pockets more. or really admirable out there that i was of. and they're getting. you know over time if you need to control inflation or to slow the economy when we get there when the unemployment rates three percent then maybe taxes will change but until then i think this is a good thing and you know if you're thinking about stimulus at the end of the day i think americans have decided over the last three or four. years that they prefer tax cuts to
MSNBC
Jan 3, 2013 5:00pm PST
debt ceiling ends here tonight. this is "the ed show." let's get to work. >> in a couple of months the president will ask us to raise the nation's debt limit. >> the debt limit fight has begun, and so has the deception on the right. >> no need for drama. and we don't want any. >> tonight, my breakdown of the republican strategy to hijack the economy, and how democrats plan to fight it. >> we cannot be about business as usual, and that's what my vote was. >> the 113th congress is sworn in, and the circus is already in full swing. richard wolffe on today's bizarre vote for speaker of the house and how the 113th congress could crash the economy. >>> plus, the sandy relief disgrace continues. >> your two senators packed this with pork. the speaker made the right decision. >> i'll talk to a business owner who can't survive until house republicans act quickly. >>> and the president has called bill o'reilly's bluff and raised his taxes. >> if barack obama begins taxing me more than 50%, which is very possible, i don't know how much longer i'm going to do this. >> tonight we bid a fond farewel
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